Pershing Square (NYSE:PS) Stock Rating Upgraded by Wells Fargo & Company

Pershing Square (NYSE:PS) was upgraded by analysts at Wells Fargo & Company to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. UBS Group began coverage on shares of Pershing Square in a report on Tuesday. They set a “neutral” rating and a $39.00 target price for the company. Royal Bank Of Canada began coverage on shares of Pershing Square in a report on Tuesday. They set a “sector perform” rating and a $40.00 target price for the company. Oppenheimer began coverage on shares of Pershing Square in a report on Tuesday. They set a “market perform” rating for the company. Loop Capital started coverage on shares of Pershing Square in a report on Tuesday. They set a “buy” rating and a $49.00 target price for the company. Finally, Jefferies Financial Group started coverage on shares of Pershing Square in a report on Monday. They issued a “hold” rating and a $40.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Pershing Square currently has an average rating of “Hold” and a consensus price target of $42.43.

Pershing Square Price Performance

Shares of Pershing Square stock opened at $39.08 on Tuesday. Pershing Square has a 1 year low of $22.01 and a 1 year high of $54.94. The firm has a market cap of $5.80 billion, a P/E ratio of -33.69 and a beta of 2.27.

Insider Activity at Pershing Square

In other Pershing Square news, CEO William A. Ackman bought 800,000 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were purchased at an average cost of $23.77 per share, for a total transaction of $19,016,000.00. Following the transaction, the chief executive officer directly owned 1,500,000 shares of the company’s stock, valued at approximately $35,655,000. The trade was a 114.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.79% of the stock is owned by company insiders.

Pershing Square Company Profile

Pershing Square (NYSE: PS) is a publicly traded investment holding company managed by Pershing Square Capital Management, L.P., the investment firm founded and led by William “Bill” Ackman. The vehicle provides outside investors with exposure to the firm’s concentrated, actively managed investment program and is designed to deliver long‑term capital appreciation through a portfolio of equity and related positions.

The company’s principal activities center on investing in publicly traded companies, typically through concentrated long equity positions and selectively using derivatives or other instruments for hedging or to implement investment views.